
CBA is not interested in rapid development of day-to-day lending
In spite of the fact that the Central Bank of Azerbaijan (CBA) has created an opportunity to issue daily loans to non-bank credit organisations ( NBCOs) in 2024, it is not interested in the rapid development of this type of lending.
This was stated by CBA chairman Taleh Kazimov on 22 January at a press conference on the decision of the structure he heads over parameters of the interest rate corridor.
‘Daily loans pose a serious risk for both financial consumers and financial structures,’ he said.
It is worth reminding that in keeping with the CBA-approved ‘Rule on Management of NBCO credit risks’, credit institutions were allowed to issue daily loans in the national currency in the amount not exceeding AZN 500, with a daily interest rate not exceeding 0.3% and maturity not exceeding 45 days.
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- In World
- 23 January 2025 13:35
Finance
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